Welcome to the September 2012 installment of my Toronto Real Estate Market update where I will review last month’s statistics. I’m happy to elaborate on any of the data and insights in this report, just send me an email or give me a call at 416-690-2181 to discuss.
Average home prices in the GTA where up 6.4% year-over year. The average sale price in August 2012 was $479,095, it reached it’s peak in April of this year at $516,787!
6,418 homes were sold in August 2012, down 12.4 percent from August 2011 when 7,330 sales were reported (resale).
The graph below shows a running tally of month-by-month averages prices in 2011 and 2012:
Active listings (supply) continued to increase last month. Supply was up 10.6 percent in Aug 2012 versus Aug 2011.
The chart below illustrates the actual figures for supply (active listings) and demand (sales):
| Supply vs. Demand | ||
|---|---|---|
| Aug 2011 | Aug 2012 | |
| Demand | 7,330 | 6,418 |
| Supply | 17,223 | 19,043 |
The next chart outlines the average prices by housing types (detached, semi-detached, etc.). Aug 2012 and Year-to-Date (YTD) cumulative totals.
| Overall Toronto Average Prices by Type | ||
|---|---|---|
| Aug 2012 | YTD | |
| Detached | $606,929 | $628,207 |
| Semi-Detached | $437,961 | $456,389 |
| Attached/Row | $407,921 | $422,640 |
| Townhouse | $330,133 | $328,514 |
| Condo Apt | $327,856 | $336,453 |
Thanks for reading my market update for September 2012. As always, if you have questions, looking to make a move or know someone that is, let me know – I’m happy to help!